So You Are Thinking Of Selling Your Home? 

There could be many factors on why you're selling. It could include moving up into a bigger home for your family, downsizing, selling an investment property or a divorce. Whatever the reason, it's important to look at the factors of what drives the decision.

Moving Up or Downsizing

The most common situation in real-estate. The most important thing to do is look at your local real-estate market and how it is performing. Do you know the average days it takes to sell a home? Do you know the demographic your home will attract like first time buyers, end users, investors, ext? Do you know if it is a buyers or sellers market? Do you have positive equity in the home? 

These are very important questions you should consider before doing anything as they will impact your sale and if it's a right time to sell for you. At the end of the day, if you plan on selling your home and buying right after, it is all relative. If you sell high, you'll most likely buy high and vice versa. It is always recommended to contact your local real estate agent so they can educate you on this information.

Investment Property

If you're looking to sell your investment property, this is much more market specific. You need to look at how much equity you have in the property, and if it's a good time to sell. If the market appreciated, sometimes it's better to off load your property and take the gains. This is very common for people looking to retire, move out of the area or maybe you just had enough of being a landlord. A more popular route is to refinance and take your money out tax free. This all depends if you still carry the property after the generated income and expenses of the property. Being a landlord is A LOT in Ontario, BUT it can still be very rewarding if you can hold onto the property for a long period of time. Again, we recommend you contact a local real-estate professional and mortgage broker to guide you through this. 

Divorce

Can be very stressful, or for some exciting and a relief. Whatever you are feeling, we have helped many individuals through this situation. We usually recommend selling the property in this situation, no matter the market condition. The reason being, is that it can cause major emotional and physical stress on the individuals well being which is not worth your mental health.. If your fortunate enough to buy the other partner out, that may be a valuable option as well depending on the market conditions! 

If you want to learn more about selling a home, contact us at [email protected] or click here for your free sellers guide on how to sell a home in the Stoney Creek or Hamilton area! 

William Marlow 

www.williammarlow.ca 

Founder of William Marlow Real Estate and Top Real Estate Agent In Stoney Creek